On October 10th, the FDIC, Federal Reserve Board, and OCC jointly published the Shared National Credits annual review. Among other things, the review found that the credit quality of large loan commitments owned by U.S. banking organizations, foreign banking organizations, and nonbanks was relatively unchanged in 2013 from the prior year. The volume of criticized assets remained elevated at $302 billion, or 10 percent of total commitments, which was approximately twice the percentage of pre-crisis levels. The stagnation in credit quality follows three consecutive years of improvements. Joint Agency Press Release.
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